1098-T IRS Tuition Statement Disclosure Notice

IRS regulations require us to provide you with the following disclosures:

  • A student who consents to receive their Form 1098-T (IRS Tuition Statement) electronically, will not receive a paper copy of the 1098-T form.
  • If a student does not consent, a paper copy of the Form 1098-T will be mailed to the student at the address on file on or before Jan. 31 of each year.
  • A student who chooses to receive their Form 1098-T electronically will continue to receive future 1098-T forms electronically until consent is withdrawn.
  • A student who chooses to receive the Form 1098-T electronically can also print a copy from MyTMCC.
  • A student may withdraw consent to electronic delivery by sending a written request to TMCC's Accounting Services Office. The withdrawal of consent will be effective for the next Form 1098-T to be delivered and will not apply to previously issued electronic Form 1098-T. Once your withdrawal request has been received, you will receive an email confirming receipt and the effective date of your withdrawal. Form 1098-T will be available through MyTMCC for the duration of your enrollment at TMCC.

See Also: NSHE IRS Form 1098-T Information

Tax Credits

Educational institutions are required by law to provide information to students who may qualify for the American Opportunity Tax Credit (formerly the Hope Scholarship Credit) or the Lifetime Learning Credit. Schools, colleges, and universities report this information to the IRS and to students on IRS Form 1098-T.

Whether you may take advantage of these tax credits depends upon your individual facts and circumstances. Your institution cannot provide tax advice, so you may want to consult the IRS or a tax professional to find out more about the credits and your eligibility.

See also: IRS Tax Benefits for Education.

Receiving Your 1098-T Form

The IRS requires that Form 1098-T covering the previous calendar year must be postmarked by January 31 of the current calendar year. This form is mailed to the student's permanent address or is made available via MyTMCC, if you elected to receive it electronically.

Address changes for mailing may be made by logging into MyTMCC and updating your information. The advantage for receiving the 1098-T electronically is that it is immediately available and is in your student account for retrieval at any time.

1098-T Billing/Registration Dates

The Nevada System of Higher Education (NSHE) reports qualified tuition and related expenses by amounts billed. The amount billed must have been recorded in the calendar year for your tax return. When reviewing your records, please take into consideration your actual billing/registration dates. The 1098-T form reflects amounts billed in the calendar year. Amounts billed in prior or next calendar year are not included.

Example: If you registered for your Spring courses in November or December, they will be included on your current 1098-T. If you registered for your Spring courses in January, they will be included on your next year's 1098-T.

Exemptions

Non-resident Aliens are not required to be reported.

Students whose qualified tuition and related expenses are entirely waived or paid entirely by scholarships or grants are not required to be reported.